RE:RE:Do you see what I see?Touche... We could also mention the 4 Short Term Bullish technical indicators triggered Nov 27th which Recognia calcaluated with their target of 2.20 - 2.50, but I see this going much higher, and we gotta keep this simple.
Bottom, Breakout, Pullback people understand.
Technical Indicators are often conflicting and misinterpreted. They need to be weighted and combined with many factors to culminate into a trading decision. Software does a pretty good job of that nowadays, but people have different time frames and trading strategies resulting in a little bit of chaos along the major trend.
For instance we have a massive breakout on overwhelming volume followed by a Bearish Engulfing candle on lower volume followed by an hourly v bottom with volume on the upside... yada - yada - yada... you figure it out. I don't call it a 62% Fibonnacci retracement, I call it breakout, pullback to fill the gaps and load up before the sp catches up with the changing fundamentals which triggered the breakout in the first place.
Maybe you don't see what I see - hence the title of this post. I look for volume to confirm technical indicators, and what I see right now is confirmation of the major change of trend from bearish to bullish. Often bottoms are not discoverable for some time, and I'm declaring a bottom on the NXO chart, which is why I signed up here and felt drawn to share with all you (well some) people which are being generous with your time and insight. People like PatientDawg share concretely with house positions and valuable content, and I've appreciated that over the last eighteen months or so that I've selfishly read without contributing back.